My partner and I are hoping to buy a home in Bognor Regis and have appointed a Bognor Regis conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Accord Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Bognor Regis conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Bognor Regis lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bognor Regis
Two types of professional can perform conveyancing in Bognor Regis namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that required to complete the sale or acquisition of property. Both are required to handle Bognor Regis conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly conducted and that all requisite steps should be correctly taken.
When it comes to mortgage companies such as Yorkshire BS, do Bognor Regis property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
How can we know in advance if a Bognor Regis conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Bognor Regis seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your conveyancing.
I used Action Conveyancing several years past for my conveyancing in Bognor Regis. Now, I need the documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bognor Regis of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Bognor Regis with a mortgage from Barnsley Building Society. The developers would not move on the price so I negotiated £7000 of extras instead. The property agent advised me not disclose to my solicitor about the side-deal as it could affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Bognor Regis is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bognor Regis are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bognor Regis you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bognor Regis may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to instruct a conveyancing solicitor for freehold conveyancing in Bognor Regis. I happened to land on a web site which appears to be the perfect solution If there is a chance to get all the legals completed via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?